Pennant enters FY26E with a materially strengthened balance sheet and a significantly improved contracted order book, underpinned by clear momentum in software ARR. FY25E revenues and PBT are in-line expectations and net debt ahead of expectations at £0.2m (£0.7m forecast), as a result of careful working capital management. The Group enters the new year with c.75% coverage of FY26E revenue and a total contracted order book of £23.2m (up 47% YoY). Pennant has released a three-year plan which targ ....
